William Gallagher
Sources say Apple Card is still on schedule to be released in the summer, only just keeping it within Apple's stated launch timeframe.
Apple and financial partner Goldman Sachs are expected to launch the new Apple Card in the US within the first half of August. If correct, that means the launch would be in the next two to three weeks. While this puts the release at the end of Apple's stated 'summer' timeframe, sources say the timing is on schedule.
According to Bloomberg, an unnamed single source familiar with both Apple and Goldman Sachs, has told the publication of these plans.
The release earlier this week of iOS 12.4 laid the groundwork for iPhones and iPads to be able to work with Apple Card.
At launch, US customers are expected to be able to first apply for an Apple Card via the Wallet app on their iOS device, and then to use that for payments.
When it arrives, Apple Card will provide daily cash rewards, and many systems for helping you manage your money.
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53 Comments
Even without this announcement, I was virtually certain that it would launch before Apple's September event. They'll want it available for people to use on new products. :smile:
I'll bite.... The standard 2% from ApplePay will be nice, but not a panacea as I'm getting 1.5% now. For the rest of the benefits... Meh... I manage my finances using Quicken far better and far tighter than anything the AppleCard will provide -- so I will likely just ignore those other servies/benefits.
My plan is: I will downgrade my main Chase card to paying recurring charges which will put my underperforming PNC card into retirement (I won't close it out however). I'll use my Discover Card (which has a really nice benefit of ID Theft protection) for things like PayPal and also take advantage of its quarterly 5% cash back offers. And the Apple card will become my main card -- of which 90-95% will flow through ApplePay.
I'll give it a go and see how it flies....
A question on the cash back thingee: I understand you can have that applied daily. But can you let it accumulate like other cards? I kind of like the latter: For instance I just used my cash back from my Discover card to pay for most of the cost of new 128Gb Xr iPhone for my grandson. That's a nice way to do it.
Here's something I would like to see from Apple: A prepaid debit card that can be used for ApplePay. I would very much like to open up ApplePay for my 12 year old grandson but hesitate to give him an open ended credit card. A prepaid debit card could fill that bill well -- where I could fund it in various ways: Transfer my cashback rewards to it, as a monthly allowance, or even as rewards for good grades, etc....
Just this morning (1:45 a.m.) I received a fraud alert for an attempted transaction using my MasterCard debit card. Give credit to my bank for flagging this attempt. Nice catch.
I have my physical card so some one of a handful of businesses compromised my debit card or had their database of debit/credit card transactions hacked -- again. This is not the first time one of my accounts of been hacked. Could this hack have been part of the Equifax breach?
I'll get the Apple Card -- of course. Will the Apple Card (Apple/Chase) prevent fraudulent transactions better or as well?